Millennials becoming savvy car buyers

Millennials becoming savvy car buyers

MAPLE HEIGHTS, OH (WOIO) - Having more experience doesn't help you get the best deal at a car dealership. Millennials, who are born in the early 1980s to 2000s, are using modern technology to help their car buying process.

Justin Lasich just purchased a used car at Liberty Ford. But before the 30-year-old set foot in the dealership, he did his homework.

"I went online and did some research on

and that's what led me to here," said Lasich inside the dealership in Maple Heights.

A national report says there's a big difference between the way Millennials and older generations go about buying cars. The younger, tech-savvy generation is becoming more educated, and using smart phones is one of the key reasons why.

"We see it every day," said Michael Press, general sales manager at Liberty Ford. "We see the younger generation, the Millennials, coming in. They have all their homework done."

He says they keep doing homework even after they walk in.

"Utilizing their smart phones while they're here in the dealership," Press said. "We see quite a bit of that. Definitely more than previous generations."

Research shows 73 percent of Millennials believe they're savvier than their parents at buying and negotiating. A total of 78 percent tend to buy used cars instead of new and 70 percent contacted a dealer by text message.

So much information is just a click away, and it really can pay off.

"It saved me a lot of running around and shopping different dealerships, and it led me to the best deal," Lasich said.

Right now, Millennials only make up about 12 percent of America's new car sales. By 2020, it's estimated they'll account for 40 percent.

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